Українська
Русский
English
Morgan Stanley’s Bitcoin ETF Completes First Month Without a Single Outflow
Morgan Stanley’s spot Bitcoin ETF (MSBT) completed its first month of trading without recording a single day of net outflows. This marks the strongest result among competing funds over a comparable period.
Source: SoSoValue.
The fund launched on April 8. On its first trading day, it attracted $30.6 million in inflows with $34 million in trading volume. Bloomberg analyst Eric Balchunas ranked the debut among the top 1% of ETF launches in history. At the same time, the broader spot Bitcoin ETF sector recorded a net outflow of $94 million on the day MSBT launched.
By mid-May, daily inflows into MSBT had declined from tens of millions to just a few million dollars, but the fund never experienced negative net flows. Other major players — including BlackRock’s IBIT and Fidelity’s FBTC — periodically faced outflows during the same period.
The fund’s primary competitive advantage has been its annual fee of 0.14%, currently the lowest in the U.S. market. For institutional investors, the 0.11% difference compared to IBIT translates into savings of approximately $1.1 million for every $1 billion invested.
During its first six trading days, MSBT attracted $103 million in inflows — more than WisdomTree’s BTCW, which has been trading since January.
Morgan Stanley’s Head of Digital Assets, Amy Oldenburg, stated that nearly all inflows came from retail investors. The bank has not yet fully opened access to the ETF for its 16,000 financial advisors, who collectively manage approximately $9.3 trillion in assets.
Balchunas predicts that MSBT’s assets under management could reach $5 billion within its first year. To achieve this, Morgan Stanley would need to integrate the product into its wealth management advisory network.
It is worth noting that Morgan Stanley filed an S-1 application with the SEC in March to launch the spot Bitcoin ETF.
